Add Me!Close Menu Navigation

HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

Add Me!Open Categories Menu
14 August
Posted in General News
Comments Off

HSBC Canada Private Equity to be sold

Details are sketchy, but it seems the private-equity group at HSBC Canada is set to be acquired by the management team. It’s understood talks are considerably advanced and the deal for the sale of HSBC Capital (Canada) Inc. – which has offices in Vancouver, Calgary, Edmonton and Toronto – could [...]

14 August
Comments Off

Capital One to buy HSBC credit card business

Orchard Bank , Household Bank, and HSBC credit card customers will soon be sending payments to Capital One, if a recently-announced multi-billion dollar deal is completed. According to reports from Reuters and the Wall Street Journal, London-based HSBC had expressed intentions to focus its operations on UK consumer banking and [...]

2 August
Posted in Jobs and Layoffs
Comments Off

HSBC to cut 30,000 jobs

It looks like earlier estimates of 10,000 job cuts at HSBC was not correct. Try 30,000 jobs lost at HSBC. Aug. 2 (Bloomberg) — HSBC Holdings Plc plans to eliminate 30,000 jobs by the end of 2013, or about 10 percent of staff at Europe’s largest bank, to curtail surging [...]

28 July
Posted in Jobs and Layoffs
Comments Off

HSBC may cut 10,000 more employees, has a problem

HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S. credit card arm and shrink its network of 475 U.S. branches.

15 July
Posted in Jobs and Layoffs
Comments Off

Wells, Capital One Eye HSBC Assets

NEW YORK, July 14 (Reuters) – Capital One Financial Corp and Wells Fargo are among the bidders for HSBC Holdings Plc’s U.S. credit card portfolio, according to sources familiar with the situation. In a separate HSBC asset sale, U.S. regional banks First Niagara Financial Group, KeyCorp, and M&T Bank Corp [...]